FTTN: Low Storage Levels Boost Outlook for U.S. Natural Gas

May 05, 2014 07:00 AM Eastern Daylight Time

MIRAMAR BEACH, Fla.--(BUSINESS WIRE)--A new report predicts that immediate demand for natural gas will
increase dramatically, a promising development for First Titan Corp.
(OTCBB: FTTN) as one of its oil and natural gas wells prepares to go
online.

Canaccord Genuity, a global, full-service investment bank, reports that
U.S. natural gas inventories are 48 percent below 2013 storage levels
and 53 percent below the five-year average. Following this year’s
extended and abnormally frigid U.S. winter, current, low storage levels
are bullish for natural gas demand as a greater amount of refilling must
be done this summer to bring storage back to necessary levels.

In addition, the U.S. Energy Information Administration (EIA) expects
total natural gas consumption will average 72.1 Bcf per day (Bcf/d) in
2014, an increase of 0.7 Bcf/d from 2013.

“These natural gas projections are encouraging for First Titan and the
Company’s natural gas producing assets,” FTTN CEO G. Jonathan Pina said.
“The harsh U.S. winter decreased natural gas inventories, which must be
replenished in preparation for the expected increased demand by
consumers later this year. With our South Lake Charles, Louisiana
project expected to go online in the near future, we are pleased to hear
of a favorable market pricing environment for natural gas.”

First Titan Corp. owns non-operating working interests in wells located
in Alabama, Oklahoma, Texas and Louisiana. The Company is building an
asset base of oil and gas properties and is dedicated to the continued
development of energy assets throughout North America alongside
companies such as Lucas Energy, Inc. (NYSE: LEI), Earthstone Energy,
Inc. (NYSE: ESTE), Fieldpoint Petroleum Corp. (NYSE: FPP) and Evolution
Petroleum Corp. (NYSE: EPM).

First Titan Corp., through its wholly owned subsidiary, First Titan
Energy, LLC, is committed to the exploration and development of oil and
natural gas resources around the globe. The Company continually seeks to
partner with energy developers that are pursuing innovative new methods
of oil and gas extraction, including the development of new
technologies, cleaner methods and unconventional resources.

Notice Regarding Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: This news release contains forward-looking information within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
including statements that include the words “believes,” “expects,”
“anticipate” or similar expressions. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that
may cause the actual results, performance or achievements of the company
to differ materially from those expressed or implied by such
forward-looking statements. In addition, description of anyone’s past
success, either financial or strategic, is no guarantee of future
success. This news release speaks as of the date first set forth above
and the company assumes no responsibility to update the information
included herein for events occurring after the date hereof.